Sources close to SteelOrbis have indicated that market players throughout the US are still trying to sort through the newly imposed, 25 percent tariff on steel imports.
“We’re all still trying to get new pricing from the offshore mills, but it seems that at the current time, the mills are busy trying to renegotiate orders that came in before the tariffs were announced, and they’re trying to sort through cancellations,” a source said.
Another source said it’s been very difficult to quote pricing to customers, due to still-uncertain price points. “Everything I’ve sent out to customers basically says that pricing may change, but for now, imports OCTG now costs 25 percent more than it did two weeks ago.”
The most recently heard transaction range for US import J55 ERW OCTG casing from Taiwan in the US domestic market, prior to the announcement, was heard at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt), DDP loaded truck in US Gulf coast ports. With the tariff, that pricing would raise to $50.00-$51.25 ($1102-$1130/mt or $1000-$1025), DDP loaded truck in US Gulf coast ports.